{
  "title": "Guatemala: 2022 Article IV Consultation-Press Release; Staff Report; and Informational Annex",
  "publication": "IMF Staff Country Reports, June 7, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/06/07/guatemala-2022-article-iv-consultation-press-release-staff-report-and-informational-annex-519033",
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  "summary": "The remarkable resilience of the economy during the pandemic, driven by policy support, favorable credit conditions and a favorable external environment, has almost returned the level of GDP to its pre-pandemic projected trend.",
  "sections": [
    {
      "heading": "Overview",
      "content": "- The economy showed \"remarkable resilience\" during the pandemic, driven by \"policy support, favorable credit conditions and a favorable external environment.\"\n- The level of GDP has \"almost returned the level of GDP to its pre-pandemic projected trend.\"\n- The outlook is described as \"very uncertain\" with \"significant downside risks, mostly external.\""
    },
    {
      "heading": "Economic performance and near-term outlook",
      "content": "- Growth: \"For 2022, growth is expected to moderate.\"\n- GDP level: \"almost returned the level of GDP to its pre-pandemic projected trend.\"\n- External environment: favorable during recovery but a source of downside risks going forward (pandemic, geopolitical tensions, tightening global financial conditions)."
    },
    {
      "heading": "Inflation and monetary conditions",
      "content": "- Headline inflation: \"eased to 3 percent (the lower limit of the inflation target band) at end-2021.\"\n- Near-term inflation: \"For 2022... inflation is expected to rise in line with global inflationary pressures.\"\n- Drivers: prevalence of domestic factors contributed to lower inflation at end-2021; global inflationary pressures expected to push inflation up in 2022."
    },
    {
      "heading": "Social indicators and structural concerns",
      "content": "- Social outcomes remain weak despite macro resilience:\n  - Poverty: \"remain high.\"\n  - Malnutrition: \"remain high.\""
    },
    {
      "heading": "Risks and uncertainty",
      "content": "- Principal downside risks (characterized as \"mostly external\"):\n  - The pandemic.\n  - Geopolitical tensions.\n  - The tightening of global financial conditions in response to global inflationary pressures.\n- The outlook is explicitly \"very uncertain\" because of these risks.\n\n---\n\n Content in this bundle\n\n- 1gtmea2022001\n  - 1gtmea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1gtmea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: June 7, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400212215.002",
    "The economy showed \"remarkable resilience\" during the pandemic, driven by \"policy support, favorable credit conditions and a favorable external environment.\"",
    "The level of GDP has \"almost returned the level of GDP to its pre-pandemic projected trend.\"",
    "The outlook is described as \"very uncertain\" with \"significant downside risks, mostly external.\"",
    "Growth: \"For 2022, growth is expected to moderate.\"",
    "GDP level: \"almost returned the level of GDP to its pre-pandemic projected trend.\"",
    "External environment: favorable during recovery but a source of downside risks going forward (pandemic, geopolitical tensions, tightening global financial conditions).",
    "Headline inflation: \"eased to 3 percent (the lower limit of the inflation target band) at end-2021.\"",
    "Near-term inflation: \"For 2022... inflation is expected to rise in line with global inflationary pressures.\"",
    "Drivers: prevalence of domestic factors contributed to lower inflation at end-2021; global inflationary pressures expected to push inflation up in 2022.",
    "Social outcomes remain weak despite macro resilience:",
    "Principal downside risks (characterized as \"mostly external\"):",
    "The outlook is explicitly \"very uncertain\" because of these risks.",
    "**1gtmea2022001**"
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